Interest Rates for Thousands of Military Officers and Sub-officers' Previous Loans to Be Reduced: Pashinyan

The government is set to restructure the loans previously taken by several thousand military officers and sub-officers. This was announced by acting Prime Minister Nikol Pashinyan on his Facebook page.

"The essence of the decision is to reduce the interest rate on these loans by up to half and to extend the repayment period.

As a result, let’s say if a military service member is currently paying 50,000 AMD monthly for loan servicing (repayment), after the proposed changes, they will start paying about 25,000 AMD for that same restructured loan. That's up to half less.

Upcoming decisions will also address the issue of assisting former servicemen in acquiring housing," Pashinyan wrote.

"This may not be a comprehensive solution, but it will certainly move the issue from a deadlock," he added.